Track all the cues that are likely to impact the sentiment today, including the stocks you should keep a tab on.
The markets are likely to continue to consolidate and react to the Q4FY12 earnings of India Inc this week. The Sensex ended the previous week with a gain of 279 points as the markets cheered a surprise 50-basis point repo rate cut by the Reserve Bank of India.
The BSE benchmark ended higher for the first four trading days, wherein it touched a high of 17,530. However, partial profit taking on Friday saw the index settle at 17,374 for the week.
“The Nifty can face resistance around 5,325 – 5,350, while it may seek support around 5,255 – 5,235 levels,” technical analysts suggest.
Asian shares and the euro steadied on Monday after the IMF secured new funding to prevent the contagion of the euro zone's debt crisis. MSCI's broadest index of Asia-Pacific shares outside Japan was nearly flat while Japan's Nikkei average opened up 0.4 per cent.
At 720 am Indian Standard Time, the SGX Nifty was trading at 5,306 levels – down 5 points.
Stocks to watch
Back home, among individual stocks, RIL will react to the 21 per cent fall in its net profit to Rs 4,236 crore in the quarter ending March 2012.
GMR Group has offloaded around 44.6 lakh shares in Karur Vysya Bank for Rs 178.87 crore through bulk deals.
The Bombay Stock Exchange has informed that Dr Reddy's Laboratories will replace DLF in the benchmark 30-share Sensex.
Also keep a tab on TCS and UltraTech Cement as they will announce their respective March 2012 quarter results today.
